Urogen Pharma Ltd (URGN) Received its Third Buy in a Row

By Austin Angelo

After H.C. Wainwright and Oppenheimer gave Urogen Pharma Ltd (NASDAQ: URGN) a Buy rating last month, the company received another Buy, this time from Stifel Nicolaus. Analyst Derek Archila reiterated a Buy rating on Urogen Pharma Ltd today and set a price target of $63. The company’s shares opened today at $38, close to its 52-week low of $34.61.

Archila observed:

“We are reiterating our Buy rating on URGN after the company reported its 1Q19 financial and business update this morning. As we highlighted in our AUA recap note earlier this week, we continue to like the stock at these levels and think it is a great entry point for investors given UGN-101 is meaningfully de-risked and its durability data continues to look solid, in our view. On the call, management outlined upcoming milestones in 2019 including: (1) its rolling NDA submission in 2H19, towards the latter part per management; and (2) data from UGN-102’s open-label study in non-muscle invasive bladder cancer (NMIBC) at some point this year. Further, we believe URGN remains well capitalized and management has the potential to create additional value by leveraging its RTGel platform for more business development opportunities.”

According to TipRanks.com, Archila has 0 stars on 0-5 star ranking scale with an average return of -8.2% and a 33.6% success rate. Archila covers the Healthcare sector, focusing on stocks such as DBV Technologies SA – American, Rhythm Pharmaceuticals Inc, and Principia Biopharma Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Urogen Pharma Ltd with a $66.25 average price target, representing a 74.3% upside. In a report issued on May 6, Cowen & Co. also maintained a Buy rating on the stock.

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The company has a one-year high of $69.57 and a one-year low of $34.61. Currently, Urogen Pharma Ltd has an average volume of 119.5K.

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UroGen Pharma Ltd. is a clinical stage pharmaceutical company, which engages in the provision of non-surgical and localized solutions for urological pathologies to address a clinical unmet need in field of uro-oncology.